April 27, 2009

Congress Is Poised to Ease Passage of Obama's Plan to End Bank-Based Lending

By Kelly Field

Washington

Congress appears to be on the verge of putting President Obama’s plan to end the bank-based portion of the federal student-loan system on a fast track to passage.

According to Congressional aides, lawmakers have reached tentative agreement on a compromise budget blueprint that would shield the plan from a filibuster threat, helping it clear the Senate with little or no Republican support.

The agreement, which aides and lawmakers were expected to finish over the

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